Covestro AG Sponsored ADR (OTCMKTS:COVTY) Short Interest Update

Key Points

• Covestro AG saw a dramatic increase in short interest of 2,014.3% in August, bringing the total to 14,800 shares as of August 31st.
• Despite the increase in short interest, Covestro's stock price increased by 1.3%, reaching $34.27 during trading on Thursday.
• The company reported a quarterly loss with an EPS of ($0.18) and currently has analysts projecting a modest earnings of $0.03 EPS for the current year.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 14,800 shares, a growth of 2,014.3% from the August 15th total of 700 shares. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is presently 1.2 days.

Covestro Price Performance

Shares of COVTY stock traded down $0.23 during trading hours on Tuesday, reaching $34.38. The stock had a trading volume of 12,744 shares, compared to its average volume of 6,037. The stock's fifty day simple moving average is $34.86 and its 200 day simple moving average is $33.78. The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30. Covestro has a 12 month low of $28.48 and a 12 month high of $35.97. The firm has a market capitalization of $13.00 billion, a PE ratio of -31.83 and a beta of 0.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) EPS for the quarter. Covestro had a negative net margin of 2.68% and a negative return on equity of 5.68%. On average, equities research analysts predict that Covestro will post 0.03 EPS for the current year.

About Covestro

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.